Question

Define or explain the following concepts (Any THREE): 

Stock 

Answer 1

Stock refers to entire quantity of a commodity which is in the custody of the seller. So it is the potential supply. Stock depends on production. Stock can be greater than the supply. (a) For perishable commodities the stock and the supply can be the same. (b) For durables commodities, the stock can be more than the supply. Stock comes before supply